DOJ Files Suit Against Raycom

The Department of Justice filed a civil antitrust lawsuit against Raycom Media Inc. on Thursday because the company hasn't yet sold its Richmond, Va., CBS affiliate following the company's acquisition of the NBC affiliate in that market, the Wall Street Journal reports.

Seeking to preserve competition in Richmond, the Justice Department asked Raycom to divest the CBS affiliate within 90 days of the closing of its April acquisition of NBC-affiliate WWBT-TV from Lincoln National Corp. Raycom bought three television stations and a sports syndication business from Lincoln, a financial-services firm, for $583 million.

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